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GC Asia
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Smaller non-bank lenders ‘won’t survive’ BoE funding rejection
Some non-bank lenders are unlikely to survive the pandemic crisis, sources say, after the Bank of England told the industry it is not willing to provide emergency liquidity support in the wake of the Covid-19 outbreak. Non-bank institutions are having to grant the same payment relief to customers as high street banks but still have outgoing warehousing costs.
12.15 PM -
SoFi takes second shot at OCC bank charter
Online lender SoFi this month filed for a bank charter with the Office of the Comptroller of the Currency (OCC) for the second time, with sources saying a more supportive OCC may increase the lender's chances of being approved after beginning the process three years ago.
14 Jul 2020 -
China's Great Wall Motors sells auto ABS with international ratings
Tianjin Great Wall Binyin Automotive Finance, the funding arm of domestic carmaker Great Wall Motors, sealed its first internationally rated auto securitization deal on Thursday. The Rmb3.37bn ($481m) deal attracted decent demand from foreign investors.
10 Jul 2020 -
Markets look for EU to take the lead on green recovery
Momentum is growing for the economic recovery from the coronavirus pandemic to have a strong green thrust, as the UK’s mini-Budget and comments by European Central Bank president Christine Lagarde made clear this week. Capital market participants are enthusiastic about the prospect and expect it to further green the markets — but how far the drive goes will ultimately depend on politics, write Mike Turner, Jon Hay and Jasper Cox.
09 Jul 2020 -
People moves in brief
New sustainable DCM team at Citi — Deutsche picks Stergiou for new position — SMBC Nikko makes ABS trading hire
09 Jul 2020 -
First Help Financial debuts in rated ABS with subprime auto deal
Private subprime auto issuer First Help Financial (FHF) is preparing a $143m securitization backed by retail automobile contracts with subprime borrowers.
09 Jul 2020 -
Affirm breaks into ABS market with first point of sale deal
Affirm became the first fintech point of sale lender to tap the ABS market on Wednesday, in what sources said was a crucial first step towards defining an optimal, scaleable funding structure for the emergent sector.
08 Jul 2020 -
BMW sails through market volatility, seals second ABS
BMW Automotive Finance bagged Rmb8bn ($1.14bn) from a three tranche auto loan ABS transaction on Tuesday. The deal was priced tightly despite difficult market conditions in China.
08 Jul 2020 -
Global warming temperature scores to radically simplify green investing
CDP, the leading platform through which companies report their carbon emissions, has become the latest organisation to launch a potentially influential system of temperature ratings, so investors can work out how much global warming each company’s plans will theoretically lead to — and hence the overall temperature of a portfolio.
07 Jul 2020 -
Brace for the Covid-19 NPL wave, Houlihan Lokey warns banks
Zam Khan is a managing director in Houlihan Lokey’s Financial Institutions Group, where he leads the portfolio and capital advisory practice. He told GlobalCapital how banks should use financial data to deal with new NPL formations, or risk being engulfed by losses over the next few months.
07 Jul 2020
